Question

Choose the correct answers for (a) the total installment price, (b) the carrying charges, and (c) the number of months needed to save the money at the monthly rate to buy the item for its cash price.

a racing bicycle with a cash price of $900 at $90.00 down and $40.50 per month for 24 months

a.

b.

c.

Answer 1

90+40.50×24
=1,062

1,062−900
=162

900÷40.50
=23

Answer 2

Answer:      A=1062.00

                   B=162.00

                   C=23